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OZ Minerals buys precious metals developer

Thomson Geer has advised Cassini Resources on its acquisition by OZ Minerals.

December 01, 2020 • By Emma Musgrave
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OZ Minerals buys precious metals developer
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Firm: Thomson Geer (Cassini Resources and Caspin Resources); Gilbert + Tobin (OZ Minerals Limited).

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Deal: Cassini Resources has been advised in relation to a scheme of arrangement which saw it become acquired by OZ Minerals.

 
 

The acquisition of Cassini by OZ Minerals also involved a simultaneous demerger of its Yarawindah Brook and Mount Squires assets via an in-specie distribution of shares in a wholly owned subsidiary of Cassini, Caspin Resources Limited (Caspin Resources), a statement from Thomson Geer explained.

Value: $76 million

Area: M&A, energy and resources

Key players: The Thomson Geer team on the acquisition and demerger schemes of arrangement was jointly led by partners Scott Gibson and Michael Ng and senior associate Christopher Seotis. Scott Gibson and special counsel Cameron Bill led the initial public offering of Caspin Resources, with assistance from graduate lawyer Ryan Gava.

Deal significance: Cassini Resources is described as a base and precious metals developer and explorer.

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The acquisition of Cassini by OZ Minerals was implemented on 5 October 2020 and involved the demerger of the aforementioned Caspin assets.

“It was a pleasure to work in partnership with Cassini and its shareholders to complete this transaction,” Mr Gibson said.

“We are also thrilled for Caspin Resources and its shareholders in relation to Caspin’s exciting debut on the ASX.”

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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